Image via Wikipedia If you currently run your own business or are thinking about going into business for yourself, it's important to ensure that you have a solid retirement plan in place. While there are numerous retirement plans in the marketplace, three are commonly used by the self-employed or by small business owners. The SEP, or simplified employee pension, is similar to an IRA, or individual retirement account. When you establish an SEP, you can take advantage of a tax deduction based on the amount of your contribution. You can put up to 25 percent of your salary into an … [Read more...]
Planning for Your Future in Three Parts
Image via Wikipedia A lot of people only think of one part when they save money. For them, the entire notion is something they just want to get taken care of, and then not think about again until they can rely on their cushion of cash when their time of need inevitably arrives. Unfortunately, there is not just one time when you are going to need your savings kitty. You are going to need it at three distinct times. Everybody knows about retirement saving, and many people practice it regularly. However, this is just not enough. While having a solid retirement plan in place is … [Read more...]